On Friday, Following U.S. Stocks were among the “Top Gainers”: BioScrip (NASDAQ:BIOS), TravelCenters of America (NYSE:TA), Molycorp (NYSE:MCP), Carmike Cinemas, (NASDAQ:CKEC)
BioScrip Inc (NASDAQ:BIOS), with shares inclined 10.39%, closed at $4.25.
TravelCenters of America LLC (NYSE:TA), with shares jumped 9.93%, settled at $14.73, hitting new 52-week high of $14.91.
Molycorp Inc (NYSE:MCP), with shares climbed 10.25%, and closed at $0.714.
Carmike Cinemas, Inc. (NASDAQ:CKEC), surged 9.73%, and closed at $34.05.
Latest NEWS regarding these Stocks are depicted underneath:
BioScrip, Inc. (NASDAQ:BIOS)
Formerly on March 9, BioScrip, Inc. (BIOS), declared the sale of $62.5 million in Series A Convertible Preferred Stock (“Preferred Stock”) to Coliseum Capital Administration, LLC (“Coliseum Capital”) and associated funds. The Preferred Stock is convertible into 12,088,975 shares of BioScrip’s ordinary stock at a conversion price of $5.17 per share, which was the closing price of BioScrip’s ordinary stock on the NASDAQ Global Market on March 6, 2015. Dividends on the Preferred Stock will be payable quarterly at an annual rate of 8.5% if paid in cash or 11.5% if accrued. As part of the transaction, BioScrip issued to Coliseum Capital warrants for an aggregate of 3.6 million shares of BioScrip stock. Warrants for 1.8 million shares are exercisable at $5.295 per share and warrants for 1.8 million shares are exercisable at $6.596 per share.
In addition, BioScrip intends to conduct a registered rights offering to allow all of BioScrip’s existing stockholders of record, on a date to be determined by the Board, the non-transferable right to purchase their pro rata share of $20.0 million of Preferred Stock and warrants on the same terms as the accomplished private placement to Coliseum Capital. Coliseum Capital and its associates will not take part in the rights offering. Additional details regarding the anticipated rights offering will be comprised of in the Corporation’s Form S-3, which it intends to file with the Securities and Exchange Commission.
The proceeds from the private placement will be used primarily to reduce BioScrip’s outstanding indebtedness.
Christopher Shackelton, a Co-Founder and Managing Partner of Coliseum Capital, will join the BioScrip Board of Directors effective right away.
Richard M. Smith, President and Chief Executive Officer of BioScrip, said, “We are happy to declare this planned investment by Coliseum Capital which we expect will enhance BioScrip’s financial flexibility. We are excited to welcome Chris to our Board and believe his extensive experience in the healthcare services industry will bring added value to our Corporation.”
Mr. Shackelton, said, “Coliseum is excited to be partnering with BioScrip. We believe strongly in the benefits of expanding the delivery of home-based healthcare, which start with improved patient care and outcomes, and extend to lower costs for payers. Specifically, we see noteworthy value to the healthcare system from home-based infusion therapy. I am happy to be joining BioScrip’s Board and I look forward to working with the Corporation.”
The closing of the private placement occurred recently following a securities purchase contract in connection with a financing transaction following Section 4(a)(2) of the Securities Act of 1933, as amended, and Regulation D promulgated thereunder. The securities that were sold in the accomplished private placement have not been registered under the Securities Act, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from such registration requirements.
BioScrip, Inc. is a leading national provider of infusion and home care administration solutions. BioScrip partners with physicians, hospital systems, skilled nursing facilities, healthcare payors, and pharmaceutical manufacturers to provide patients access to post-acute care services. BioScrip operates with a commitment to bring customer-focused pharmacy and related healthcare infusion therapy services into the home or alternate-site setting.
TravelCenters of America LLC (NYSE:TA)
TravelCenters of America LLC (TA), declared financial results for the fourth quarter and year ended December 31, 2014.
At December 31, 2014, TA’s business comprised of 250 travel centers in 43 U.S. states and in Canada, 174 of which were operated under the “TravelCenters of America” or “TA” brand names and 76 of which were operated under the “Petro” brand name. At December 31, 2014, TA also operated 34 convenience stores with retail gas stations, primarily under the “Minit Mart” brand name.
Business Commentary:
TA’s EBITDA for the fourth quarter of 2014 raised by about $69.3 million over the 2013 fourth quarter to $75.5 million. TA’s Adjusted EBITDAR for the fourth quarter of 2014 raised by about $61.2 million, or 89.8%, to $129.4 million, over the Adjusted EBITDAR for the 2013 fourth quarter of $68.2 million. The raises in EBITDA and Adjusted EBITDAR are primarily attributable to a $54.6 million, or 65.0%, raise in fuel gross margin that resulted from higher fuel sales volume and an raise in gross margin per gallon, which averaged $0.278 during the 2014 fourth quarter as compared to $0.169 during the 2013 fourth quarter, and the continued improvements in the results of sites TA attained in 2011 through 2014. Additionally, in the fourth quarter of 2014 TA also recognized a $6.9 million reduction in fuel cost of sales as a result of the reinstatement in December of certain federal biodiesel tax credits retroactive to January 1, 2014.
TA’s fuel proceed for the 2014 fourth quarter and year declined from the preceding year comparative periods primarily due to the sharp decline in market prices for fuel during the last five months of 2014. Declines in fuel product costs, which were realized more rapidly than declines in sale prices, were the catalyst for the noteworthy raise in TA’s fuel gross margin per gallon over the comparable 2013 periods. TA’s nonfuel proceed for the 2014 fourth quarter raised by $46.8 million over the preceding year quarter. About half of this raise came from same site proceed growth and the other half came from proceed at sites TA attained since the starting of the fourth quarter of 2013. TA’s nonfuel gross margin percentage for the fourth quarter of 2014 declined from the 2013 fourth quarter largely as a result of a modest change in mix of its products and services sold.
Net revenue for the fourth quarter of 2014 was $34.3 million, or $0.91 per share, a $22.4 million raise over net revenue for the 2013 fourth quarter of $12.0 million, or $0.39 per share. The rise in net revenue for the 2014 period reflected raised fuel gross margins at our comparable sites and improvements in the results of recently attained sites. Also, in the fourth quarter of 2013, TA recorded a $10 million charge related to a litigation settlement that did not recur in the fourth quarter of 2014. The factors increasing net revenue were partially offset by the change in TA’s provision or benefit for revenue taxes for the fourth quarter of each of 2014 and 2013; in the 2014 fourth quarter, TA recognized revenue tax expense of $18.6 million, which was $46.9 million more expense than the $28.2 million benefit for revenue taxes recognized in the 2013 fourth quarter. The 2013 benefit primarily resulted from a $29.9 million reversal of a previous valuation allowance on TA’s deferred tax assets that did not recur in 2014. TA’s effective tax rate for 2014 of 38.2% is more in line with the statutory rate than had been the case in previous years.
TA’s travel centers operate under the “TravelCenters of America”, “TA”, “Petro Stopping Centers” and “Petro” brand names and offer diesel and gasoline fueling, restaurants, truck repair facilities, travel/convenience stores and other services. TA’s nationwide business comprises travel centers located in 43 U.S. states and in Canada. TA also operates convenience stores with retail gasoline stations principally under the “Minit Mart” brand name.
Molycorp, Inc. (NYSE:MCP)
Molycorp, Inc. (MCP), declared that it will release financial results for the fourth quarter and full year ended December 31, 2014 after the market closes on Monday, March 16, 2015. Release of Molycorp’s financial results will be followed by an investor conference call on Tuesday, March 17, 2015 at 9:00 a.m. Eastern, hosted by Geoff Bedford, President and Chief Executive Officer, and Michael Doolan, Executive Vice President and Chief Financial Officer.
Molycorp is the only advanced material manufacturer in the world that both controls a world-class rare earth resource and can produce high-purity, custom engineered rare earth products to meet increasingly demanding customer specifications.
Carmike Cinemas Inc. (NASDAQ:CKEC)
Carmike Cinemas Inc. (CKEC), stated that in view of certain press reports and unusual market activity in the Corporation’s stock, the NASDAQ stock exchange contacted the Corporation on March 13, in accordance with its usual practice. The Corporation has stated that its policy is not to comment on unusual market activity or rumors.
Carmike Cinemas, Inc. is a U.S. leader in digital cinema, 3-D cinema deployments and one of the nation’s largest motion picture exhibitors. Carmike has 272 theatres with 2,894 screens in 41 states.
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